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“Please know that you are not only inspiring little Black girls, you are inspiring little Black boys too! You are paving the way for ALL of us. We are watching and learning from all that you do." 

––a heartfelt open letter to Bea Dixon (founder of Honey Pot who was inundated with racist reviews after her Target ad aired) from the young founders of  Frères Branchiaux Candle Co, brothers Collin Gill (14 yo), Ryan Gill (11 yo), and Austin Gill (9 yo)
Happy Humpday! In this issue you'll find:

––my analysis of the record amount of money spent to woo Black voters in the 2020 Democratic primary and an interesting observation: neither of the leading Democratic candidates have economic platforms that specifically target Black Americans
(View the overall Super Tuesday results here)

––the first entry in my new Founder's Diary series, featuring reflections from Nile founder Khadijah Robinson

––
two must watch videos

––the latest business news and money moves headlines, including the appointment of Erika H. James as the first woman and African American dean of UPenn's Wharton School

––RULEr rounds of applause and March birthday shoutouts 

Thanks for reading.

Travers
FOUNDER'S DIARY
In the first entry of our Founder's Diary series, Nile founder Khadijah Robinson reflects on advice she would give her younger entrepreneurial self. Nile, a digital platform that connects you with thousands of Black-owned brands online, officially launched this past Sunday. Check them out at thenilelist.com

"I would tell myself what I am constantly telling myself to this day: Slow down a little and let go a little. I think a lot of founders are very Type A, like I am, and are perfectionists, like I am. We love this idea that we have and we love the process of bringing that to fruition, and so we get caught up in the work that it takes to make that happen. I sometimes wouldn't sleep or eat because I just wanted to get one more thing done so that Nile could come alive just that much sooner. But the only deadlines in place were the ones that I created for myself, and the business doesn't continue if I wear myself out. I consistently try to remind myself to rest a bit and pace myself. It's hard, especially now that we are in launch mode. But it's necessary, because, I'm still a human! I just wish that I would have known a good way to keep myself centered and paced when I started this journey so that I could have made that my standard as I created this business. Now I am trying to shift from the "work till you drop" mode and it's so much harder to move away from that mindset." ––Khadijah Robinson

HAPPY BIRTHDAY TO YA!

Happy Birthday to some of our RULErs with March birthdays! 

Ywanda Kimbrough Carter
Gaybrielle LeAnn Gant
Amber Grant
Morris Borenstein
Stephanie Taylor
Marisa Vigilante


(Did I miss your birthday? Do you want to be included in the next round of birthday shoutouts? Submit your name and birthday here.)
 

ELECTION 2020
Black Voters Can't be Bought
Despite a record amount of money being spent by other Democratic candidates to woo them, Black voters in the South stay loyal to Biden 
By Travers Johnson

The results from the South Carolina primary and Super Tuesday are in and, unsurprisingly, Black voters in the South turned out overwhelmingly in favor of former Vice President Joe Biden. Two observations that I've been following:

  • Democratic candidates have spent a record amount of money courting African Americans this primary season
  • neither of the leading candidates have economic platforms that specifically target Black Americans

––––––––––––

The billionaire candidates spent millions courting Black voters 
 

Tom Steyer, the hedge fund billionaire who went viral for backing that thang up with Juvenile last weekend, spent millions courting Black voters in South Carolina. According to The New York Times:

  • the Steyer campaign spent roughly $14 million on local broadcast ads in the state, including many Black-owned news organizations
  • he spent "lavishly" with Black-owned businesses: hiring Black staffers from local communities, hosting events at Black-owned venues, and employing Black vendors
Additionally, the Steyer campaign hired Black-owned messaging and strategy firm HIT Strategies as its internal pollster. Despite promising gains in the state, Steyer finished in third place in South Carolina and exited the race on Saturday.

But no one has spent more money this primary season than former NYC mayor Mike Bloomberg. While his overall campaign spending is enormous––by mid-February he had already spent more than $400 million on advertising alone––he has also been throwing record-breaking sums of money at Black-owned news organizations and businesses: 

  • The Bloomberg campaign is spending a record $3.5 million to advertise his presidential campaign in the black news media 
  • His charitable contributions over the years have resulted in a remarkable number of Black mayors endorsing him 
  • He has employed a Black-owned print company, PR firm, and creative agency
  • and released a nationwide TV ad touting his support for Black-owned businesses
Nevertheless, he is said to be reassessing his campaign
after his disappointing Super Tuesday performance.

 

Biden & Bernie lack robust Black economic agendas

 

While other candidates and former candidates like Elizabeth Warren, Pete Buttigieg, and Mike Bloomberg have laid out plans that addressing the economic needs of Black Americans, neither of the current leading candidates have plans in their platforms that specifically target Black Americans.

Joe Biden's somewhat vague "Plan to Invest in Middle Class Competitiveness" says nothing about how he will specifically help Black Americans. And while Bernie Sanders' Racial Justice plan is commendable, his approach to economic justice is not race-specific. This is notable because the historic and systemic economic injustices leveled against Black Americans specifically, need solutions that are specifically for Black Americans.

As we move forward in this election cycle, we as Black Americans must demand race-specific economic solutions from the remaining Democratic candidates.

ROUND OF APPLAUSE

Congratulations are in order for:

-–Marquita Farmer recently landed a new position as Executive Administrator at Esperanza Health Center. In this role she will be working with federal grants and various other projects that create greater access to health for medically underserved communities in North Philadelphia. Congrats, Marquita!

WATCH

Tech Industry Fuels Reverse Migration For Black Americans // NBC Nightly News

Budget of Millennial Millionaire who Saves 80% of his Income // Millennial Millionaire

BUSINESS NEWS / MONEY MOVES
Erika H. James, Ph.D. becomes the first woman and African American to be named Dean of the prestigious Wharton School at the University of Pennsylvania
Black woman-owned business Honey Pot sees sales jump nearly 50% after being inundated with racist online reviews
Why Black businesses and homeownership won't close the wealth gap
More companies get into business of Black History Month
––Number of profitable Black-owned small businesses rises 5% year over year

––A rare Black-owned Maryland movie theater celebrates its first anniversary

––Megan Thee Stallion's legal battle with label a cautionary tale for artists signing contracts

––Joe Coulombe, who founded Trader Joe's, dies at 89

––What it's like to b a Black female hotel owner


––Women-powered weddings on rise

––Why JPMorgan Chase is expanding its Advancing Black Pathways program
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